Estate Planning

Estate Planning – Who Is On Your Team?

When you say “estate planning”, many people think of going to an attorney and having their Last Will and Testament prepared.  But, is this all that meets the definition of “estate planning”?  Oh no — far from it.  First of all, the term “estate planning” is the production of documents far beyond a Will.  At […]

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Will You Make Your Kids Angry After You Die?

During my career of doing estate administration, I found in the earlier years that the beneficiaries were more appreciative of what they received.  The children got along and all was well.  However, our society has changed and now there are many cases ending up in court to settle matters which were not able to be […]

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Checking In On Your Resolutions

So, we are in the first full week of January and life is regaining a normal routine.  How are you doing on your resolutions?  Last week, Yasmeen Khaleel gave a list of suggestions of areas to address with regard to estate planning.  If you read that blog, have you even given it any further thought?  […]

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Rethinking Old Trusts and Your Estate Planning

If you have a trust, you may think that their original purpose no longer seems compelling. Your estate plan may designate that your assets will pass into a “bypass” or “credit shelter” trust, which will pay income to your surviving spouse and ultimately pass assets to your children. Historically, it was common for married couples […]

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Think you do not have anything to leave behind? Think Again! (Part 1 of 4)

We hear it time and time again. People considering whether or not to have estate planning documents done, but stopping short of following through because they think “I really do not have anything to leave behind” or “There is no need right now, I only have one bank account anyway”. While that may be true […]

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The Ever Expanding Definition of What Constitutes A Will

One of the most important legal documents an individual can ever execute is his or her Will. Until recent years, it was a formal writing prepared by a lawyer to insure that one’s assets were passed to his or her heirs. Yet over the past few decades, alternative planning methods have arisen. Moreover, New Jersey […]

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Get Rid of That Old Will!

In 1994, Helen M. Weste executed a Last Will. She was single and had no children. The Will made three charitable bequests, left her personal property to a niece, and left the remainder of her estate to be divided in differing percentages among a sister along with eight nieces and nephews. In 2002, Helen executed […]

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Powers of Attorney: Practical Tips for Executing, Using and Revoking

By Thomas D. Begley, III, Esq. Co-Authored by Brittany A. Verga, Esq. Although most people initially think that a Will is the cornerstone of estate planning, it is often asserted that the most important document is a power of attorney. A power of attorney is a document in which one individual vests authority in another […]

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Legal Authority For Gifting

As wealth accumulates in this country and our population continues to age, the propriety of lifetime giving has increased. Gifts can be made out of sheer benevolence, but are also important in minimizing death taxes and long term care costs. This blog will review some of the key concepts involved in lifetime giving. Gifts can […]

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The Perils of Joint Accounts

Joint Tenancy With a Right of Survivorship (JTWROS) is a manner by which many of us hold bank and other financial accounts with others.  It is a traditional method of account ownership that has many benefits.  It commonly reflects the unity between spouses.  It avoids probate when one party dies.  It can be used for […]

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